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August 11th, 2014
Production Tax Incentives for Documentary Films
State production tax incentives have become an increasingly important part of any financing plan for feature length fiction films. But what about documentary films?
Documentary filmmakers often do not consider production incentives because the filmmaker's focus is on the subject of the documentary - which drives the production locations. Even so, it is worth considering whether the state in which the subject of the documentary will be filmed offers production incentives. The incentives may help attract investors by guaranteeing at least partial recoupment of the investment, particularly if the financing structure permits the tax credit revenue to go first to those investors (if a film has other sources of financing such as grants or donation model crowdfunding revenues).
Even if only postproduction is done in a state with production incentives, those costs may be eligible for a tax credit refund or rebate, or be available to be sold if in a transferable tax credit state.
Of course, the structure of the financing of a documentary is critical in order to maximize the chances of monetizing state production incentives for documentaries in a tax efficient manner.
To help our clients and friends identify the states that make production tax incentives available for documentary filmmakers, we put together a summary which you can find here.
For further information or advice about appropriate production and financial structures, please contact Thomas D. Selz at (212) 826 5535 or firstname.lastname@example.org, Victoria S. Cook at (212) 826 5553 or email@example.com, or Lisa E. Davis at (212) 826 5530 or firstname.lastname@example.org.
Other Entertainment Law Alerts
New Federal Budget Revives Section 181
Among the provisions of the Bipartisan Budget Act of 2018 passed by Congress and signed by the President on February 9 is a retroactive extension of Internal Revenue Code Section 181. Read more.
February 15 2018
Section 181 Revived
The new tax law, commonly referred to as the Tax Cuts and Jobs Act (the "Act"), contains some good news for producers of motion pictures, television programs and live theatrical shows (each a "Production") and their investors. Read more.
January 11 2018
Video Game Association Challenges Chicago’s Online Streaming Services Tax
One of the nation's most prominent video game associations has decided to challenge Chicago's controversial "Cloud Tax." Read more.
June 16 2017